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Oct14

BEWARE OF RARE BANKNOTE SCAM

Categories // Rod's Thoughts

This is a good one! Just last week, I received an email from a guy named Alex in Argentina who claimed he was selling his banknote collection which had attached a complete list of rare notes:
“My name is Alex
Im a collector of an Old and rares Worldwide Paper Money, I decide to sell part of my collection, i have available for offert you:
Union Bank of Newfoundland
India Princely States Hyderabad, Gwalior, Bundi, Portuguese india
China Dinasty and Provincial, Tibet.
Southamerica Colonial Currency,
Japanese Monarchy,
CCCP – RUSSIA IMPERIAL.

 

let me know if you are interested or if you need more or better pictures, especially of any item.
I am willing to sell at reasonable price. “

Always interested in any decent material I replied that I would like to see the list which in short order I received this email:
“Hello Mr
thanx for answer and please to meet you!
for personal reasons, I am forced to sell part of my collection.
let me know if you have an offer about some of these lots.

Lot 1

Palestina 1 pounds 1929
Palestina 5 pounds 1929
Palestina 10 pounds 1929
Palestina 500 pounds 1929
Egypt 100 pounds 1921
Egypt 50 pounds 1945
Egypt 1 pounds 1924
egypt 10 piastres 1940
Egypt 50 piastres 1914
Egypt 100 pounds 1906
Egypt 10 pounds 1913/20

Lot 2

Princely states hyderabad 1000 rupees –
Portuguese India 50 rupee –
Portuguese India 4 tangas –
India British Administration –
Princely states hyderabad 1 rupee –
Princely states hyderabad 10 rupee –
Princely states hyderabad 100 rupee –

Lot 3
Saint Johns, NF- Commercial Bank of Newfoundland $2 Jan. 3, 1888
St. John’s- NF Union Bank Of Newfoundland $2 May 1, 1882
Harbor Grace, Newfoundland- Archibald Boot & Shoe Factory 50¢ July 1, 1898.
St. John’s NF- Government of Newfoundland $1 Jan. 2, 1920
St. Johns, NF- Union Bank of Newfoundland $10 May 1, 1889
Saint Johns, NF- Union Bank of Newfoundland $5 May 1, 1889
Saint Johns, NF- Commercial Bank of Newfoundland $20 Jan. 3, 1888
Saint Johns, NF- Union Bank of Newfoundland $20 May 1, 1889
st. John’s NF- Newfoundland Government Cash Note $1 1906
Saint John’s, Newfoundland- Union Bank of Newfoundland $50 May 1, 1889
Saint John’s, Newfoundland- Union Bank of Newfoundland $5 May 1, 1889
Saint John’s, Newfoundland- Union Bank of Newfoundland $20 May 1, 1889
USA mercantile bank 5 dollar 1868
USA 10dollars $ refunding certificate — 1879
Cuba 1000 pesos Banco Espanol 1880 (20x14cm)
Argentina 10 pesos 1888 –
Argentina 1000 pesos 1888 (20 x 13 cm)
Peru 5 soles banco de tacna – 1896
Guatemala 1 peso- 1880
Rep Dominicana 1 peso – 1900

Lot 4

china peoples republic 1 yuan 1953 pmg 55 –
china dinasty 1 chuan 1900 CGA 25 –
china dinasty 1 yuan hupeh provincial bank 1905 –
china Peiyang Tientsin Bank. 1 Taels, ND (1910
Peiyang Tientsin Bank. 5 Taels, ND (1910) –
china- russo asiatic bank 10 tsen – 850 USD
china 7 Maces and2 candareens 1896 hupe government mint(big and rare note 22x13cm) –

let me know if you need photos of any item or lot specific.

at your disposal

Alex”

An impressive lot of notes so of course I asked for pictures of the Newfoundland notes which again, Mr. Alex sent some very nice pics:

Not being the trusting type as I get approached on a scam a day, I did some quick research and found that indeed all of these notes were sold though auction houses over the past 10 years or so. Our conversation went as follows:

Rod says:
Hi alex, is your union bank of newfoundland 50 dollars a 1 sided specimen? I would have to do some research but the notes are in excess of 20,000.00. I cannot do my research until tuesday when I’m back in my store. If we were to agree to a price, how would you propose that we proceed? May I ask where you acquired these and if we might have some mutual acquaintances? They are very nice and beautiful notes.

Alex:
Hello Rod
About the Newfoundland 50 dollars effectively it is a double-sided printed specimen.
my collection is an inheritance from my grandparents,unfortunately due to personal problems I am forced to sell.
let me know if you have any offer for this lot.
Regards

Alex
Rod:
Hi alex, it would be between 22,000 and 25,000 but I would have to do a little research to finalize the price also, as you are in argentina, how would you propose closing the deal? I have insurance for incoming and outgoing mail but only up to 10,000 per package.

Alex:
Hello Rod
About the Newfoundland 50 dollars effectively it is a double-sided printed specimen.
my collection is an inheritance from my grandparents,unfortunately due to personal problems I am forced to sell.
let me know if you have any offer for this lot.
Regards

Alex

Rod:
Hi alex, Can you tell me when you inherited these notes?

Alex:
I inherited these notes last year when my grandfather died,
Mr Rod,
wire transfer to bank in Switzerland would be good? Tell me about the insurance for incoming and outgoing mail i can not undestand that.
if you need more pics please let me know,
waitting

Alex
Rod:
Hi Alex, I get approached on many international deals. Of course you know that I would not send any money until I had the notes in my hand. If you send them to me by fedex, i would have them fully insured under my insurance and wire the money the same day. I have plenty of references from satisfied customers on much larger deals than this. There are just too many scams to send the money without having the notes in hand. I would need to confirm the grade on the union bank $20. If thats UNcirculated, my offer would be 23,500.00 US

Well, that was the last I heard of Alex. A very good attempt at a scam. He had the rare notes and the pics. Only a fool would ever send the money before they received the goods but its a wake up call in a business such as this – don’t go meeting people on large deals unless you are 100% certain of who you are dealing with. My last email to Alex:
Rod:
This is obviously a scam. The pics were taken from various internet auction websites. Your ip address is traceable and police will be contacted today.

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